Oncocyte (NASDAQ:IMDX) Announces Quarterly Earnings Results

Oncocyte (NASDAQ:IMDX) issued its earnings results on Wednesday. The company reported ($0.28) earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $0.03 million during the quarter.

Oncocyte Stock Performance

Shares of Oncocyte stock traded down $0.01 on Friday, hitting $6.41. The stock had a trading volume of 452,850 shares, compared to its average volume of 226,907. Oncocyte has a one year low of $2.33 and a one year high of $8.51. The firm has a market cap of $206.97 million, a PE ratio of -4.33 and a beta of 1.63. The firm has a 50-day moving average of $4.19.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on IMDX. Wall Street Zen cut shares of Oncocyte from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. Lake Street Capital raised their target price on shares of Oncocyte from $8.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Oncocyte in a report on Friday, March 27th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Oncocyte presently has an average rating of “Hold” and an average target price of $12.00.

Insider Activity

In other news, major shareholder Broadwood Partners, L.P. bought 280,381 shares of the business’s stock in a transaction dated Thursday, April 23rd. The shares were purchased at an average price of $3.50 per share, for a total transaction of $981,333.50. Following the completion of the acquisition, the insider owned 12,395,081 shares of the company’s stock, valued at approximately $43,382,783.50. This trade represents a 2.31% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have purchased a total of 753,045 shares of company stock valued at $2,685,120 in the last quarter. 2.05% of the stock is currently owned by company insiders.

About Oncocyte

Oncocyte (NASDAQ:IMDX) is a molecular diagnostics company that develops and commercializes tests intended to improve cancer detection, risk stratification and treatment decision-making. The company focuses on creating assays that provide clinically actionable information to physicians managing patients with suspected or confirmed malignancies, with particular emphasis on tools that can help evaluate lung nodules and other oncology-related diagnostic challenges.

Oncocyte’s product and development efforts center on blood- and tissue-based molecular assays that analyze biomarkers and genomic signals to inform clinical workflows.